Highlights
The Investment represents a significant financing in challenging capital markets.
No incremental royalties on the claims where Osisko acquired a 0.75-1.5% NSR through the
Deal structured such that the NSR's issued in relation to the Investment together with existing outstanding royalties will not exceed 1.5%.
Brings cash into the treasury with no dilution to shareholders.
The Investment allows Regulus to continue to advance exploration activities on the AntaKori project and maintain its social commitments.
Represents a strong technical endorsement for the AntaKori project.
'The continued support of Osisko is a strong endorsement of the AntaKori project. Given that equity markets are currently very challenging, we believe this transaction adds value to shareholders by avoiding equity dilution while providing Regulus with cash to continue to advance work programs at AntaKori.'
'The next major milestone for the project will be a decision on the Colquirrumi earn-in claims whereby Regulus can earn up a to 70% interest from Buenaventura by completing 7,500 m of drilling. Upon completing the 7,500 m, Buenaventura can elect to either give Regulus a 70% interest in the claims or pay Regulus
Details of the Transaction
Regulus, through its wholly owned Peruvian subsidiary, will grant to Osisko an NSR on certain claims of AntaKori ranging from 0.125% to 1.5%. As well, Regulus will transfer a right to buyback a 1% NSR for
Corporate Update
The Company has entered into short-term loan agreements with certain directors and officers for approximately
As a result of the insider participation in the short-term loans to the Company, these loan transactions are considered to be related party transactions subject to
Qualified Person
The scientific and technical data contained in this news release pertaining to the AntaKori project has been reviewed and approved by Dr.
Contact:
CEO and Director
Phone: +1 720-514-9036
Email: john.black@regulusresources.com
Phone: +1 1 347 394 2728
Email: ben.cherrington@regulusresources.com
About
Regulus is an international mineral exploration company run by an experienced technical and management team. The principal project held by Regulus is the AntaKori copper-gold-silver project in northern
For further information on
Neither the
Forward Looking Information
Certain statements regarding Regulus, including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Regulus' control. Often, but not always, forward-looking statements or information can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate' or 'believes' or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved.
Specifically, and without limitation, all statements included in this press release that address activities, events or developments that Regulus expects or anticipates will or may occur in the future, including the proposed exploration and development of the AntaKori project described herein, the completion of the anticipated drilling program, the completion of an updated NI 43-101 resource estimate and management's assessment of future plans and operations and statements with respect to the completion of the anticipated exploration and development programs, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Regulus' control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements. Although Regulus believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The forward-looking statements contained in this press release are made as of the date hereof and Regulus does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities law.
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